Yoma announces several new ventures in Myanmar

Artist's impression of property developer Yoma Strategic Holdings' mixed-use development project in central Yangon, Myanmar. -- FILE PHOTO: YOMA STRATEGIC HOLDINGS LTD
Artist's impression of property developer Yoma Strategic Holdings' mixed-use development project in central Yangon, Myanmar. -- FILE PHOTO: YOMA STRATEGIC HOLDINGS LTD

Singapore-listed Yoma Strategic Holdings has made several moves to expand its business operations in Myanmar across various industries, it said on Tuesday.

The company has formed a new investment holding arm, Yoma Agricultural & Logistics Holding (YALH), for its forays into the coffee, dairy, cold storage and logistics, and commercial vehicle leasing businesses.

International Finance Corporation, the World Bank's private equity arm, will invest up to 20 per cent in YALH and will share its global network and expertise in agriculture investments in developing countries, Yoma said.

It also announced that it has formed joint ventures with various partners to plant and sell coffee; process and supply UHT dairy products to consumers in Myanmar; and store and distribute agricultural, seafood and processed products.

In addition, the group has signed its first three contracts for vehicle leasing last month. Orders worth US$1.5 million have been placed for trucks, buses and tractors, Yoma said.

In separate announcements on Tuesday, Yoma also outlined plans to develop real estate and establish educational facilities in Myanmar.

It will partner First Myanmar Investment Co (FMI) to jointly develop two plots of land at FMI City, Yangon into a residential and commercial development with about 90 homes and 19,900 sqft of commercial leasing space. The land sites, which have a total area of 1.345 acres, have been valued at US$3.2 million.

Yoma has also signed a memorandum of understanding with Harrow International Management Services to manage an Early Years Centre within the group's Pun Hlaing Golf Estate residential development in Yangon, as a first step towards setting up the first British curriculum school in the area.

Meanwhile, it is in talks with education groups to operate an international school and a private local school in the Thanlyin Township, near the group's Star City development area.